Tennessee gives cash to 'accelerators'

Tennessee gives cash to 'accelerators'

August 25th, 2011 by Staff Report in Business Around the Region

The Tennessee Department of Economic and Community Development will hand out $2.25 million a year for the next three years to support new regional "business accelerators" across the state.

Each of the nine development districts in Tennessee will get $250,000 for programs to be selected next month that "create a more robust entrepreneurial system," Economic Development Commissioner Bill Hagerty said Wednesday.

The state received 40 inquiries already from regional chambers of commerce, universities, private companies and individuals interested in the new effort.

Interested parties are encouraged to file a letter of intent with the department by Sept. 6.